Media Culture Shifts: theory vs. reality:

Regardless of upper management’s determination, you’ll never be able to steer a century-old company the way a young startup adjusts to changing circumstances, whether it’s explosive growth or adverse events.

(Via Monday Note)

Old firms are like big cruise ships, it’s hard for them to change direction and make maneuvers rapidly. Speed and direction changes are two of the things that new firms (typically) have as strengths for dealing with changing market realities.